can we hide required standard field or make it read only since that fields auto populates the name once the user save the field,in order to make the user less confusing
Generally speaking, no. Standard required fields are required for proper system operation and cannot be disabled in any way. You could choose to write a Visualforce page or two, but it's usually not worth the effort. Instead, some amount of training should be invested in the users. You can also add an Inline Help Text to most standard fields these days if you want to provide on-screen instructions about the usage of a field.